Crypto Today: Bearish Momentum Gathers Pace as Bitcoin, Ethereum and XRP Extend Losses

• Around $80,000, Bitcoin remains under sustained selling pressure, with immediate support coming from the dynamic SuperTrend line.
• A fifth successive day of losses leaves Ethereum under sellers’ control ahead of Wednesday’s Fed interest rate decision.
• Below $1.30, XRP edges down as momentum indicators deteriorate and resistance constrains gains.

At around $80,000, Bitcoin (BTC) remains constrained by its technical structure, with its five-day sell-off leading a broad correction in cryptocurrency prices on Monday. The Crypto King nevertheless has support from a firm cluster of medium- to long-term moving averages, suggesting scope to absorb selling pressure.

Trading near $2,325, Ethereum (ETH) slips as sellers gather momentum in an effort to maintain control of the trend. Ripple (XRP), by contrast, appears to be consolidating, although supply at $1.30 restricts gains and curbs the token’s scope for recovery.

Market sentiment weakens as Fed decision approaches

Interest rates are widely expected to remain in the 3.75-4.00 range when the Federal Reserve (Fed) announces its decision on Wednesday. According to CME Group’s FedWatch Tool, the probability of no change stands at roughly 91%, while only 9% of market participants expect a rate increase.

In September, the Federal Open Market Committee (FOMC) delivered its first interest rate increase in three years, raising rates by 25 basis points. It cited persistent inflation alongside oil and energy price pressures stemming from the war in the Middle East.

The central bank remains committed to its long-term inflation target of 2%, a level still exceeded in the world’s largest economy. Alongside the rate announcement, investors will scrutinise Fed Chair Kevin Warsh’s remarks at the post-meeting conference for indications of the policy outlook. Economists are assigning a greater probability to a rate cut in December.

Monday’s Crypto Fear & Greed Index reading of 50, within Greed territory and down from 54 in the same range the day before, points to subdued appetite for digital assets ahead of the FOMC meeting. The broader decline from last month’s average of 74 underlines macroeconomic and geopolitical uncertainty, as well as the absence of a strong catalyst to sustain demand.

Bitcoin technical analysis: Sellers seek to maintain control

Above the SuperTrend line at $79,664 and the longer-term 100-day and 200-day Exponential Moving Averages (EMAs) at $77,681 and $76,322 respectively, Bitcoin retains a constructive bullish bias at $80,061. Immediate resistance nevertheless comes from the 50-day EMA at $80,797, which continues to cap the pair. With the Relative Strength Index (RSI) easing to 41 and the Moving Average Convergence Divergence (MACD) histogram negative, bullish momentum appears to have weakened, suggesting that further gains could prove harder to achieve in the near term.

The SuperTrend line near $79,664 offers the first support, followed by the 100-day EMA at $77,681 and the 200-day EMA around $76,321. Together, these levels form a broader demand zone supporting the medium-term uptrend. A decisive daily close above the 50-day EMA at $80,797 would clear the way for further gains. Failure to overcome that resistance, however, could leave BTC consolidating or retreating to test nearby SuperTrend support again.

Altcoin technical analysis: Selling pressure builds on Ethereum and XRP

At $2,322, Ethereum remains only marginally above its 200-day EMA at $2,317, while the 100-day EMA at $2,363 and the 50-day EMA at $2,459 continue to cap the price. These overhead trend measures leave the broader outlook bearish. Well above the spot price, the SuperTrend line at $2,580 adds to the downside bias. Meanwhile, a falling MACD below zero and an RSI around 34 point to sustained selling pressure, with conditions moving towards oversold levels rather than signalling a recovery.

The 100-day EMA near $2,363 presents the first upside obstacle, ahead of the 50-day EMA around $2,459. Beyond those levels, the SuperTrend line at $2,580 forms a more substantial barrier that would need to be breached to indicate a lasting bullish reversal. Immediate downside support, meanwhile, rests at the 200-day EMA of $2,317.

Should ETH close below that level on a daily basis, a deeper retreat would likely follow. Staying above it, however, could provide room for consolidation and another attempt to challenge resistance in the mid-$2,300s.

With XRP trading near $1.28 beneath its key moving averages, the near-term outlook remains bearish. Overhead resistance comprises the 100-day EMA at $1.33, the 50-day EMA at $1.36 and the 200-day EMA at $1.37. This arrangement suggests that rebounds are likely to encounter limits while the wider downtrend persists.

A MACD reading below zero, showing only a modest improvement, reinforces the weak momentum picture. The RSI, at around 38 and just above oversold territory, likewise suggests continuing downward pressure rather than a convincing rebound.

For XRP, the first resistance level is the 100-day EMA near $1.33, ahead of the 50-day EMA around $1.36 and the 200-day EMA at $1.37. Reclaiming this tightly packed supply zone would be necessary to ease the current bearish structure. Further above, the latest SuperTrend line at $1.45 presents a more distant obstacle aligned with the broader descending resistance trendline. That trendline continues to trace lower highs, reinforcing the prevailing negative bias while the price stays beneath this cluster of overhead levels.

(The technical analysis of this story was written with the help of an AI tool. Know more.)